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TPG Capital also owns restaurant chain Prezzo, which recently secured the backing of creditors for a Company Voluntary Arrangement (CVA). The plan will allow the Italian-themed chain to exit unprofitable branches and secure rent reductions.

A total of 94 of Prezzo's 300 outlets will close, with around 500 jobs understood to be in the firing line, although many staff will be redeployed at other restaurants. The CVA proposal was backed by 88% of the creditors.